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  1. Another Big Four Firm Fined (Again)

    27 July 2022 Another Big Four Firm Fined (Again)

    Another Big Four Firm Fined (Again) By Jake Rickman What do you need to know this week? UK Regulators have given KPMG its largest fine to date for intentionally misleading the Financial Reporting Council (FRC) during its independent audits of previously troubled companies. KPMG became...
  2. Mini Series: The Business of Law Firms - Comparing Profit Margins

    27 July 2022 Mini Series: The Business of Law Firms - Comparing Profit Margins

    Mini Series: The Business of Law Firms Comparing Profit Margins By Jake Rickman Overview Welcome to the fifth article in our series on the Business of Law Firms. Last week, we looked at the overall purpose of the income statements and their usefulness in calculating a business's profit...
  3. Government Intervention in the Regulation of Independent Markets

    20 July 2022 Government Intervention in the Regulation of Independent Markets

    Government Intervention in the Regulation of Independent Markets By Jake Rickman What do you need to know this week? Bank of England policymakers are gearing up for a fight with the UK Government over its proposal to allow ministers to intervene on decisions traditionally reserved for the...
  4. Starbucks Mulls Selling Off its UK Business

    20 July 2022 Starbucks Mulls Selling Off its UK Business

    Starbucks Mulls Selling Off its UK Business By Jake Rickman What do you need to know this week? The BBC reports that Starbucks — the Seattle-based international coffee shop chain — is considering a sale of its UK business. Starbucks has since clarified that it has not launched a “formal”...
  5. Mini Series: The Business of Law Firms - The Income Statement

    20 July 2022 Mini Series: The Business of Law Firms - The Income Statement

    Mini Series: The Business of Law Firms - The Income Statement By Jake Rickman Overview Welcome to the fourth article in our series on the Business of Law Firms. Last week, we looked at why law firms deduct a portion of their profit as expenses. Today we will look at the overall purpose of...
  6. Musk Balks

    13 July 2022 Musk Balks

    Musk Balks By Jake Rickman What do you need to know this week? In what may or may not come as a surprise (depending on your perspective), according to a letter filed with the Securities Exchange Commission by Skadden, Elon Musk has announced he is terminating his acquisition of Twitter...
  7. Quantitative Easing: Another Weapon For Central Banks

    13 July 2022 Quantitative Easing: Another Weapon For Central Banks

    Quantitative Easing: Another Weapon For Central Banks By Jake Rickman What do you need to know this week? Over much of 2022, central banks, including the Bank of England, the Federal Reserve, and the European Central Bank, have shifted away from a decades-long practise of “quantitative...
  8. Mini Series: The Business of Law Firms - Profit

    13 July 2022 Mini Series: The Business of Law Firms - Profit

    Mini Series: The Business of Law Firms - Profit By Jake Rickman Overview This article is the third in a series on the Business of Law Firms. Last time, we considered why profit might be calculated in different ways and then looked at two measures of profit: operating profit and profit...
  9. Mini Series: The Business of Law Firms - Profit

    29 June 2022 Mini Series: The Business of Law Firms - Profit

    Mini Series: The Business of Law Firms Profit By Jake Rickman Overview This article is the second in a series on the Business of Law Firms. Last week, we looked at the basics of an income statement by examining Clifford Chance’s most recently published accounts. Specifically, we considered...
  10. Trump's SPAC Setback

    29 June 2022 Trump's SPAC Setback

    Trump's SPAC Setback By Jake Rickman What do you need to know this week? A United States federal grand jury has served Digital World Acquisition Corp (DWAC) — the blank-cheque SPAC that intends to acquire former president Donald Trump’s Trump Media and Technology Group (TMTG) — with a...
  11. EY Undervalues NSO Group

    29 June 2022 EY Undervalues NSO Group

    William Barton / Shutterstock.com EY Undervalues NSO Group By Jake Rickman What do you need to know this week? Big Four firm EY is under scrutiny for its valuation of the controversial NSO Group. EY had valued the group at £1.9bn shortly before the Israeli defence firm received a $10m...
  12. Mini Series: The Business of Law Firms - A Firm's Accounts

    22 June 2022 Mini Series: The Business of Law Firms - A Firm's Accounts

    Mini Series: The Business of Law Firms A Firm's Accounts By Jake Rickman Overview We will look at some key drivers of law firms as a business in what will be the first in a mini-series on the business of law firms. This week’s goal is to demystify a law firm’s accounts (specifically its...
  13. EY Moving Ahead with Carve Out Plans

    22 June 2022 EY Moving Ahead with Carve Out Plans

    William Barton / Shutterstock.com EY Moving Ahead with Carve Out Plans By Jake Rickman What do you need to know this week? Big Four professional service firm Ernst & Young (EY) appears to be moving ahead with its plan to break up its business by possibly listing its advisory business on...
  14. Historic Rate Rises with More Likely to Follow

    22 June 2022 Historic Rate Rises with More Likely to Follow

    Historic Rate Rises with More Likely to Follow By Jake Rickman What do you need to know this week? On Wednesday last week, the US Federal Reserve raised its federal funds rate by 75 bps (i.e. basis points, equivalent to 0.75%) from a target range of 0.75% - 1.00% to 1.50% – 1.75%. This is...
  15. The Legal Profession This Week - Mishcon Suspends IPO

    15 June 2022 The Legal Profession This Week - Mishcon Suspends IPO

    The Legal Profession This Week - Mishcon Suspends IPO By Jake Rickman What do you need to know this week? Mishcon de Reya has suspended its initial public offering (IPO) — a plan that has been in the works since 2019. IPOs around the world are down across the board. The volume of cash...
  16. Evaluating the Risk of a Recession

    15 June 2022 Evaluating the Risk of a Recession

    Evaluating the Risk of a Recession By Jake Rickman What do you need to know this week? First, energy prices around the world continue to soar due to further supply interruptions, including a fire at a key liquid natural gas (LNG) terminal in the US and Russia’s announcement of additional...
  17. Crypto Company Coinbase Contracts

    15 June 2022 Crypto Company Coinbase Contracts

    Nadezda Murmakova / Shutterstock.com Crypto Company Coinbase Contracts By Jake Rickman What do you need to know this week? The US-based crypto exchange platform Coinbase has laid off 1,100 employees — equivalent to nearly 20% of its staff. A blog post on the company’s website cites a...
  18. Foxtrot! Paramount sued over Top Gun Sequel

    8 June 2022 Foxtrot! Paramount sued over Top Gun Sequel

    chingyunsong / Shutterstock.com Foxtrot! Paramount sued over Top Gun Sequel By Jake Rickman What do you need to know this week? On Monday, it was announced that the studio that produced the recently-released sequel to the 1980s blockbuster Top Gun is being sued for copyright infringement...
  19. Judicial Review Claims Against the London Metal Exchange

    8 June 2022 Judicial Review Claims Against the London Metal Exchange

    Peter Bueno / Shutterstock.com Judicial Review Claims Against the London Metal Exchange By Jake Rickman What do you need to know this week? This week, hedge fund Elliott Management and market maker Jane Street have each filed a judicial review claim against the London Metal Exchange (LME)...
  20. UK Consumer Spending Slows for Second Successive Month

    8 June 2022 UK Consumer Spending Slows for Second Successive Month

    UK Consumer Spending Slows for Second Successive Month By Jake Rickman What do you need to know this week? In a joint report compiled by professional services firm KPMG and the British Retail Consortium, consumer spending is down for the second month in a row in April. In effect, retail...

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